St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-06-14
THE COMMERCIAL RECORD.
On the Chicago Board of Trade the Dull
ness in the Wheat Pit Was
Remarkable.
Particularly as Compared With the Ex-
element of the Closing Hours
of Saturday.
July Has Now Become ! ..;7 vpuon About
Which the Speculative Inter-
est Centers.
Transactions in the Financial Circles
of Wall Street.-The Gen.
eral Markets.
Snecial to the Globe.

Special to the Globe.
CHICAGO. June l3-The incident of the day
in the wheat pit was n bid of sage for any
part Of >. 900 900 bushels of July wheat by
Resented X Co. This came on top of heavy
purchases of the same option by the same
house at S3i2c. The bid sent the market
above SIC for July. The clique houses had
orders 10 buy July wheat this morning and
Irwin. Green " Co, and NJ. Rosenfeld Il Co.
did buy enough July nj the start TO steady the
market. but not enough 10 give the impression
that there was not any organized efforts on
the part of the June crowd TO get much of
july The price. which was S;ic on the curb.
was run up 70 S3S4c. but il was bulled by the
sCalpcrS. The receipts were laTge-44S cars
50 was the''out' inspection. which amounted 10
;j65 600 bushels. The interest Low centers
in July. the June deal having advanced so
far that there is little left TO speculate over
The argument is that the clique would
r. scarcely so 10 the pains Of enormous ship
ments Of cash wheat simply for the benefit of
their June deal They do not help il but
rather hinder it, and make il more expen-
sive. Neither does il seem likely that the
June crowd would buy several million
bushels of July as they did Saturday and to-
day. if no July operations were intended.
After the market settled down the crowd had
evidence that the clique houses had orders in
July at s3l2c. or better. from Cincinnati
The buying of scalperS who tailed on upon
that theory took July to e334c. ". r. Baker
X Co. are believed 10 be holders of good
deal Of
July WHEAT
for the June crowd. There are one or two
other houses whose lines of July are large
and who appear to be using the same wires
III reporting their trades, and the same
cipher that the old clique houses do. The
New York clearanccS of wheat. 1915 600
bushels made the shipments from that
port alone this week about 10000 bushels
After the big bid from Rosenfeld II Co.. at
S3S4c the clique houses retired from the
market. The visible supply figures under
ordinary circumstances would have been
considered q bear circumstance. but the re-
Ceipts at Chicago have been so extraordinary
because Of the squeeze that n decrease Cf
even 100000 bushels in TIC visible Of wheat
was accepted finally as something remark
able, and II Was nothing but the enormous
shipments from the seaboard that could
have offset them. The receipts of wheat to-
morrow Will be big. The estimates are for
900 cars. kershaw offered 5000
cars and loo. GOO bu of wheat to one of the
branch lines at 4 poe rate to-day. 1t was re-
fused. but the offer showed the disposition of
the clique to get the wheat out The cable
continued steady up to the close. although
the shipments Of India wheat to the United
kingdom last week were $50, 600 quarters
In corn there was very little news. There
was very little reaction from the Csc point
for July. but the market at no time exhibited
any buoyancy. The time is still inauspicious
for the bull side. The receipts tomorrow
will be large-350 cars. The freight rates
are still 50 high as to initiate against any ad-
vance. and these rates are likely 10 continue
high 50 long rs there is the extreme pressure
from the clique for room for wheat. Joe
Wiltshire. OF Cincinnati. the engineer of the
wheat deal. was here to-day.
THE ROUTINE REPORT.
CHICAGO June 13-The dullness which
prevailed in the wheat pit to-day was in
marked contrast with the excitement of the
closing hours of Saturday. when wheat
dropped nearly 4c under enormous unload
ing. 1t is said that the manipuatoFs of the
tumble took il 1000. 900 bushels at PC under
the average trading figure of the day Satur-
day. and it was also reported that the same
combination. in order TO steady the market
again. took 100000 bushels to-day. June
wheat has lost its interest largely to the
crowd, and July is the center of interest
June sold to-day with Il lac range at 92l.@
S2l2c; July opened at S3I4c, and because the
clique offered TO take l.oO0000 bushels the
scalpers hitched i'll moderately. and July sold
up 10 e384c. then back To S3I4c, and later up
ing.and toward noon succeeded in getting July
up to S37Ac. Estimates on the visible supply
by this time began to show decrease instead
OF an increase and helped the bulls in their
endeavors. There waS, however. little or no
trading or anything TO distinguish the market
up TO noon from that of any other day. but a
little after noon it was bulged to
Sic by local buying and a visible
crease. The last half hour was not broken
ty any special event. Trade was moderate.
July closing the morning session at S333Gl
S;}7sc and the afternoon at S334 Eighty
eight cars of wheat were reported received
to-day. Corn was easier and prices ranged
lower. but changes were small and unimpor-
tant and taking the day as Il whole, it was a
decided unsatisfactory one 10 all classes of
trades. The receipts were liberal and with
drawals from store large. Longs sold mod
crate at inside figures. and there was said to
be talr buying orders July opened at 3Sasc,
sold up u iSI4c and closed NJ 3Sc The pro-
vision market was quiet but steady. and with
out new or interesting features. The scalp
eTs we're the principal traders. Lard was
SLOW at SG.63N6.IO, and closed at $3.50.
THE QUOTATIONS.
The leading futures ranged as follows
Wheat-No. June. 92l2c. closing at 924c;
July, s34c, closing at s3s4c; August,
closing ut 7sfsc. Corn-No. . June, 37Isc;
closinga at 37c: July, 3Slsc, closing at 3Sc:
August, 39tc, closing al 39l2c: September,
40lsc. closing at 40c. Oats-No. = June.
1t 257sc: August. Else, closing at 2l7sc:
September. 2l$4c. closiuga at 2I7sc. Mess Pork
Per bbl, June, SD. closing at SD. Lard
Per 100 lbs, June, S6.621i. closing at $500:
July, S6.67I2. closing at 81. 65; August.
S6.75, closing at S675: September, ST. S7Ia.
closing at S6.S5. Short Ribs-Per 100 lbs,
June. $3.50, closing at $40; July. $3.50.
closing at $40 August $40. closing at
$50; September, $50, closing at $3.50.
Cash quotations were as follows: Flour
was dull and neglected: prices were firm.
Wheat-No. 2 spring. 92@924c; No 3
spring, 13c: No. . red. 92c Corn-No. 2.
31@37lsc. Oats-No. ,. 25125L4c RYE
No. 2 53L2c. Bhrley-No. =, soc Mess
pork. per bbl, S2l. Lard. per 100 lbs.
S6.62l2@6.65. Short ribs sides loose S775:
dry sailed shoulders, boxed, S5.606-5. 20;
short clear sides, boxed 79uGe7. 95.
WhiSky-Distilers' finished goods per GAL
lon. 81. 10 Sugars-Cut loaf 6ss6l 65sc:
standard "A" 55sc. Receipts-Flour 900
bits: wheat. 244,000 bu; corn,e lI9. 600
6u; oats. l4T.0O0 bu: rye, 1000 bu: bar
ley, 1000 bu. ipments-Flour, $1,000
bbls; wheat. $4,000 bu: corn, 246, 600
bu eats, 15l .000 bu; barley, 600 bu On
the produce exchange to-day the butter
market was steady with frmer indications:
creamery, 13l2@l7i2c; dairy, l2@15c
Eggs We're triile weaker at 13I2014c